Sri Lanka: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in Sri Lanka

In 2021, the Sri Lankan market for plastic plates, sheets, film, foil and strip increased by 13% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports from Sri Lanka

In 2021, shipments abroad of plastic plates, sheets, film, foil and strip was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 172% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, exports of plastic plates, sheets, film, foil and strip surged to $X in 2021. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 136% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of plastic plates, sheets, film, foil and strip from Sri Lanka, with a 87% share of total exports. Moreover, exports of plastic plates, sheets, film, foil and strip to the United States exceeded the volume sent to the second major destination, Bangladesh (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +61.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+99.4% per year) and Maldives (+9.1% per year).

In value terms, the United States ($X) remains the key foreign market for plastic plates, sheets, film, foil and strip exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +65.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+49.2% per year) and Maldives (+10.4% per year).

Export Prices by Country

In 2021, the average export price for plastic plates, sheets, film, foil and strip amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the export price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+58.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports into Sri Lanka

In 2021, purchases abroad of plastic plates, sheets, film, foil and strip increased by 0.4% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 37% against the previous year. Over the period under review, imports of reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, imports of plastic plates, sheets, film, foil and strip soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of imports of plastic plates, sheets, film, foil and strip to Sri Lanka, with a combined 62% share of total imports. These countries were followed by Pakistan, Malaysia, Oman, Thailand, Singapore and the United Arab Emirates, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +36.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic plate, sheet, film, foil and strip suppliers to Sri Lanka were China ($X), India ($X) and Indonesia ($X), together comprising 55% of total imports. Pakistan, Malaysia, Singapore, Thailand, Oman and the United Arab Emirates lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Pakistan, with a CAGR of +37.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for plastic plates, sheets, film, foil and strip stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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